BAO Baobab Res.

TIDMBAO

RNS Number : 3855X

Baobab Resources PLC

19 November 2014

BAOBAB RESOURCES PLC

TETE MINING TITLE APPLICATION ACCEPTED

19 NOVEMBER 2014

Baobab Resources Plc (AIM: BAO) ('Baobab' or the 'Company') is pleased to announce that its Mining Concession application overlying the Tete pig iron and ferro-vanadium project has been accepted by the cadastre division of the National Department for Mines ('DNM') and has been assigned concession number 7055C. Once granted, the Mining Concession will be valid for a period of 25 years, renewable for a further 25 years.

Following a series of meetings with the DNM advisory team, the Company has also submitted a Mining Contract for review and presentation to the Cabinet of the Ministers. The Company is pursuing a timeline for the Mining Concession and Mining Contract to be granted before the end of January 2015.

All other exploration licences in the Company's portfolio have been prorogated for an additional year.

ENQUIRIES

 
 Baobab Resources 
 Ben James: Managing 
  Director                  +258 21 486 404 
 Jeremy Dowler: Chairman    +44 1372 450529 
 Frank Eagar: Finance 
  Director 
 
 Canaccord Genuity 
  Limited 
  Neil Elliot 
  Chris Fincken             +44 207 523 8308 
 
 Tavistock                  +44 207 920 3150 
 Financial Public 
  Relations 
 Emily Fenton / Nuala 
  Gallagher 
 

ABOUT BAOBAB RESOURCES PLC

Baobab Resources is an exploration and development company focused on the Tete pig iron and ferro-vanadium project in Mozambique, in which the International Finance Corporation holds a 15% participatory interest. The Company has been listed on the AIM of the London Stock Exchange (ticker BAO) since 2007.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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